How to give survivorship rights?
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How to give survivorship rights?
My wife and I are refinancing our house. My mother-n-law lives with us and is part owner of the house. How do we word “right of survivorship” if one of us shall pass away.
Asked on August 23, 2012 under Real Estate Law, Illinois
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
What does the Deed state? That is where the words "rights of survivorship" are placed and in just those words. The lender will have your mother in law sign documents acknowledging the loan because of the deed if she is on the deed already. Have a lawyer look at the deed. Good luck.
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